- Bitcoin pullback scenario in play, igniting bullish expectations.
- Parabolic BTC rally could follow after gold price pump.
- The price of BTC could see a new ATH in Q4.
The crypto market is currently hinting at a bullish close from BTC for the month of September, as the final month of Q3 nears a bullish green close. However, some analysts remain convinced that a greater price pullback lies ahead. With a Bitcoin pullback scenario in play, analysts are debating over the timeline for when the price of BTC will experience a rally, which some analysts expect to follow after a gold price pump.
Bitcoin Pullback Scenario in Play
As Q3 nears its close, reputed crypto analysts come together to discuss the current expectation for a bullish green September close in contrast to the initial expectation of September closing in a bearish red state. At the moment, analysts believe that the price of BTC could go on to hit a final new ATH in Q4 and believe that the dips during September were just a minor correction before the Q4 pump.
Meanwhile, other analysts believe the price of Bitcoin (BTC) would go on to fall as far as the $90,000 price range to close a CME Gap, or that it would fall at least to the $106,000 to liquidate $4 billion worth of long trades in the $107,000 price range . Presently, with the crypto market entering the last week of Q3, analysts believe a huge liquidity pump may have shifted the market into making a bullish close for September.
Bearish analysts believe that even if September closes above $100,000, the price of BTC will fall below the $90,000 price range in the weeks ahead. Despite these differing points of view, analysts are looking high and low for any indicators that support either outcome to prepare to make the best of any scenario. As we can see from the post above, one analyst believes a Bitcoin pullback scenario is in play.
To elaborate, the analyst in the post above states that in the scenario where the ongoing market correction extends further, the next major support confluence would be around the 50 EMA, aligning with the 50% Fibonacci retracement level. He concludes by saying that this is a classic spot where BTC has often found support previously during past dips. Ultimately, this move will allow the price of BTC to recover to higher prices and move toward a new ATH target.
BTC Rally Could Follow After Gold Price Pump
Another bullish sign pointing to a parabolic bull pump ahead is as the analyst in the post above highlights, where as says that a parabolic run for the price of Bitcoin (BTC) starts after gold. As we can see from the chart in the post above, this analyst says that soon money will flow from gold to BTC just as it did during the bull phases of the 2017 and 2021 bull runs. Presently, altseason expectations are high as well.
